/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/

MONTREAL, Dec. 21, 2015 /CNW Telbec/ - Fiera Capital Corporation (TSX: FSZ) ("Fiera Capital" or the "Firm") announced today that it has entered into a definitive agreement (the "Transaction") with Axium Infrastructure Inc. ("Axium") pursuant to which Axium will purchase for cancellation Fiera Capital's approximately 35% equity ownership in Axium. Axium is an independent investment manager focused on infrastructure investments in North America.

The Transaction, which is subject to customary closing conditions, is expected to close on or about January 15, 2016.

Axium and its affiliates are routinely involved in the controlling ownership position and management of U.S. operating assets in which the Axium funds invest. Fiera Capital is subject to U.S. federal banking regulations because of the share ownership positions in Fiera Capital of both National Bank of Canada and Fédération des caisses Desjardins du Québec. As a result, both Fiera Capital, and entities in which it holds a material ownership position, are subject to certain constraints on their activities. While these constraints are not an impediment to Fiera Capital's ordinary activities, it contributed to create certain limitations on Axium's. The decision to divest the ownership position in Axium was done principally to resolve these issues.

Since the creation of Axium in 2009, assets in the infrastructure platform have grown to approximately CAD$1.4 billion, thereby successfully providing value to Fiera Capital's clients and shareholders.

In order to continue providing its clients with exposure to this increasingly important asset class, Fiera Capital is in the process of establishing a new proprietary infrastructure platform. Consistent with its track record of building successful partnerships in various asset classes and sectors, Fiera Capital will enhance its infrastructure expertise either through partnerships or internally with a new investment team, thereby maintaining its position as a leading manager of alternative investments in Canada.

About Fiera Capital Corporation

Fiera Capital Corporation is a leading North American independent asset management firm listed on the Toronto Stock Exchange. The firm offers a wide range of traditional and alternative investment solutions, including depth and expertise in asset allocation. At September 30, 2015, Fiera Capital's AUM was approximately CAD$89 billion. The firm delivers distinctive investment management capabilities to institutional, private wealth and retail clients in Canada. In the U.S., asset management services are provided by its U.S. affiliates, which are investment advisers registered with the U.S. Securities and Exchange Commission. For more information, visit www.fieracapital.com.

Additional information relating to the Firm, including its Annual Information Form, is available on SEDAR at www.sedar.com.

About Axium Infrastructure

Axium Infrastructure is an independent portfolio management firm dedicated to generating long-term investment returns through investing in core infrastructure assets in North America. Axium Infrastructure manages dedicated infrastructure funds having in excess of CAD$1.4 billion in assets under management. Focus is placed on assets that are supported by robust market demand and under long-term contract with creditworthy counterparties. The firm combines the capabilities of a group of specialists with decades of experience acquiring, developing, financing, operating and managing infrastructure assets. For further information, visit www.axiuminfra.com.

Forward-Looking Statements

This document may contain certain forward-looking statements. These statements relate to future events or future performance, and reflect management's expectations or beliefs regarding future events, including business and economic conditions and Fiera Capital's growth, results of operations, performance and business prospects and opportunities. Such forward-looking statements reflect management's current beliefs and are based on information currently available to management. In some cases, forward-looking statements can be identified by terminology such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "estimate", "predict", "potential", "continue", "target", "intend" or the negative of these terms, or other comparable terminology.

By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and a number of factors could cause actual events or results to differ materially from the results discussed in the forward-looking statements. In evaluating these statements, readers should specifically consider various factors that may cause actual results to differ materially from any forward-looking statement.

These factors include, but are not limited to, market and general economic conditions, the nature of the financial services industry, and the risks and uncertainties detailed from time to time in Fiera Capital's interim and annual consolidated financial statements, and its Annual Report and Annual Information Form filed on www.sedar.com. These forward-looking statements are made as of the date of this document, and Fiera Capital assumes no obligation to update or revise them to reflect new events or circumstances, except as required by applicable law.